Good morning! Here is today’s summary from Nigerian Newspapers:
1. The Nigeria Labour Congress on Sunday lamented the devastating impact of the forex crisis on the economy and demanded urgent stabilisation of the naira. The NLC President, Joe Ajaero, who said this in a statement, blamed government officials’ love for foreign luxury products for the free fall of the national currency.
2. The Minister of Defence, Mohammed Badaru, and the Chief of Air Staff, Air Marshal Hassan Abubakar, have travelled to Turkey to facilitate the speedy delivery of the helicopters. In a statement , that two of the six units of T-129 ATAK helicopters procured by the Federal Government from the Turkish Aerospace Industry would be delivered in the coming weeks.
3. The Lagos State Government will today begin the removal of perimeter fences within two metres of drainage channels on the Norman Williams, Awolowo and Ribadu roads in the Ikoyi area of the state.The state’s Ministry of Environment and Water Resources, in a statement, said the exercise comes after the expiration of the grace period given to the property owners in the affected areas.
4. The Ogun State Police Command has said it arrested two minors for allegedly setting their school in Isheri-Olofin area of Ifo Local Government Area of the state on fire. The spokesperson for the command, Omolola Odutola, disclosed this in a statement on Sunday. Odutola noted that the minors gained access into the school, gathered books left behind by the teachers and set them on fire, an act which led to damage of the school books.
5. The Chief of Staff to the President, Femi Gbajabiamila, said on Sunday that no amount of propaganda would distract the focus of the Bola Tinubu-led administration. He noted that the administration has enormous tasks ahead of it, stressing that it would not be interrupted by baseless accusations from unverifiable quarters.
6. President Bola Ahmed Tinubu has expressed the determination of his administration to change the narrative of Nigeria as a crawling nation by bringing transformative governance. He spoke on Sunday during bilateral political talks with the Chancellor of the Federal Republic of Germany, Olaf Scholz, and his entourage at State House, Abuja.
7. A boat carrying over 100 passengers capsized midway through the Benue River on Saturday. It was learnt on Sunday that traders, women and children, heading for Binnari town in Karim-Lamido local government area of the state were on the ill-fated boat.
8. If Nigeria had lost its arbitration dispute with Process & Industrial Development (P&ID), it would have cost the country about $15 billion, former President Muhammadu Buhari, has said. He noted that his former Chief of Staff (CoS), the late Abba Kyari and the Minister of Justice & Attorney-General of the Federation (AGF), Abubakar Malami, were mandated to find a way out on the issue.
9. Pressure on the naira eased at the weekend after disclosures on the sources of the expected $10 billion forex inflows announced by the Federal Government.
The expected dollar inflow has not only raised market confidence but also pushed the Naira to record significant gains across forex segments. The Naira closed the week at N1,145/$1 at the parallel market, and N789.94/$ at the Investors and Exporters (I&E) window where over $400 million transactions were consummated on Friday.
10. An explosion rocked the Rivers State House of Assembly complex on Sunday night. The incident came amid alleged moves by some lawmakers to impeach Governor Siminalayi Fubara. It was gathered that some suspected arsonists threw an explosive into the complex around 9:25pm, causing a fire outbreak in the building.